Tag Archive 'Business Polls'

Jul 23 2012

What the Market Sees Vs What It is Actually…

Published by under Business & Marketing

The world of advertising is quite bizarre. There is absolutely no certainty what will work and what won’t. There are a number of factors that decide the fate of advertising success. Demographic preferences, consumer buying behavior and certain nuances of the target segment highly influence the overall marketing campaign. In order to understand the same PromoDirect—a leading name in the promotional industry, initiated a discussion in one of the social media channels “Which are the Best ways to recall brand in customer’s mind?”

As anticipated, we were bombarded with tons of replies from a lot of marketing geeks and some of these were business owners, and people at a very senior level including managers. Out of this survey what we have seen is some traditional outlook along with a few modern demeanors. We have taken into account all these replies and analyzed in a manner that will leave you with amazement.

  • Result 1: 58% says Television/print Media will win the race

Analogy: Perhaps true! However, with the advent of internet and online marketing, the world has been witnessing a new trend of interactive marketing instead of interruptive marketing. Moreover, the ever burgeoning cost of television and other print media is less effective when compared to internet marketing because you can measure the success of the latter one. Also with the rapid change in technology can be a catalyst in making these media less effective. With the rise in VoD (Video on Demand) people are becoming more selective regarding what they want to see, thus further shrinking the bandwidth of these traditional modes of advertising.

Analogy: Cost effective, highly influential this concept is ideal for those who have started their business recently or may be in the industry for quite some time. Many large corporations also patronize the concept of elevating your brand image in the market by distributing promotional products among its customers and future prospects. The result is quite palpable in terms of higher customer satisfaction, better brand visibility and brand recall. However, the flip side is you need to know your target audience like a mother knows her child.

  • Result 3: Only 5% still relies on Radio Advertising

Analogy: The number is already abysmally low and it will further shrink with short wave becoming obsolete.

  • Result 4: 9% is of the opinion that billboard advertising is the best

Analogy: While this might have worked earlier but no longer any more, at least not the best. There are people who do not even look at those hoardings even if they are stuck in the traffic (We came to know about it from these survey). Moreover, this can make you spend a huge some of marketing dollars without letting you know how much ROI you have got so far.

If we want to take into consideration the above mentioned analogy, we would recommend that other than internet or online marketing it is promotional marketing that can help building trust with your target segment and this way you can clearly convey your brand message to your esteemed customers with proper visibility in the market.

After all, we all know that today’s buyers no longer buy things based on opinions but inclined more towards user experience. In that way promotional products will rule the advertising world along with online marketing.

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Dec 02 2010

The Brand image contest – and the winner is…Customer loyalty!

Picture this: You are the owner of ‘Successfully Successful’ – an imaginary company that has everything going right for it. Your branding strategies are impeccable – you believe that ‘new’ never gets ‘old’ and regularly update your gradually increasing products and services catalog, you diligently make your presence felt on Facebook and Twitter and are an advertising whiz when it comes to brand promotion. You don’t worry even when your customers come and go, nor do you woo them back with corporate gifts or promotional items; because you know you won’t run out of clients.

Brand Image – Mission accomplished? No. Far from it! You have been looking inwards all the while and ignoring the one aspect that can give permanence to your brand identity – Customer loyalty. It is not my verdict alone, over 100 other individuals (104 to be precise) agreed with me when they chose customer loyalty over options like advertising, social media visibility, introducing new products/services etc in a recently concluded LinkedIn poll on the Best way to maintain your Brand Image.

LinkedIn Poll Results for Maintaining A Brand Image

Maintaining customer loyalty secured a whopping 41% of the votes from most business owners and individuals on the VP and management level.

As Carissa Siems,VP of Marketing at CAS Inc puts in her comment on the poll,
“effective branding starts with your own customer database. The loyalty of your customers is the greatest advertising you can ask for. Happy customers spread the word and get others involved in your brand. Branding encompasses all of the topics, but it all starts with your own customers.” True.

The simplest ways to maintain customer loyalty would be to…

  • Be prompt in your service. Prompter than your rival, actually.
  • Keep your promises and if you don’t hesitate to say sorry.
  • Gift of appreciation can make apologies easier. Promotional items as corporate gifts. will leave them with fond memories of doing business with you.
  • Take their feedback, and take it seriously.

And yeah, I agree with Wendy Soucie, a Social Media Consultant who says that the choices are also influenced by age.
“Its interesting that the youngest suggest social media visibility which your customers can find and interact with. The oldest poll responders suggest that maintaining customer loyalty is most important. In my opinion, these two are really the same but seen from different perspectives. Use social media to stay in front and accessible to your customers which will maintain customer loyalty. This also supports your brand while the customers become evangelists.

After all, Social media today is not just about merely reaching out, its about reaching out to fulfill concrete goals like sales, creating brand identity and profits!

Though the option only got 14% of votes, I do believe that creative advertising as a means for brand promotion is going to get BIG. According to Barclays Capital, US advertising will increase by 3.5% to $167 billion in 2010 that should account for something.

Ok, now I will choose to disobey my diplomatic mind’s contention that a combination of all of the above is a perfect recipe to maintain brand image, and go with the majority. (Though personally I think many of us picked customer loyalty, solely because we thought of ourselves as consumers first rather than entrepreneurs or professionals!)

To view a large variety of branding products for business promotion, please visit our website at www.promodirect.com

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